Home Buyer Savings with A Buyer’s Broker or Buyer’s Agent

Home Buyer SavingsThe most popular Home Buyers Agent designation for Residential Realtors is the ABR -Accredited Buyer Representative. It is offered and promoted through the National Association of REALTORS®. The Realtors who have earned the ABR Designation have gone the extra education distance for Home Buyers. They are typically very well prepared to represent the buyer’s best interests throughout the real estate purchase transaction.

  • Accredited Buyer Representative – the ABR designation is held by Buyer Brokers and Agent show these Realtors that have gone the extra step to educate themselves on the Professional Representation during the real estate buying process. There is also the Certified Buyer Representatives (CBR) designation indicating these Realtors have dedicated themselves to buyer representation. There is also the ABRM designation that is held by Accredited Buyer Representative Managers and Brokers.
  • Exclusive Buyer’s Agent – Unlike the Buyer Agents and Buyer Brokers noted above, Exclusive Buyers Agents never represents Sellers. Be aware that some Agents may call themselves an “Exclusive Buyers Agent” even though they work at a Brokerage that lists properties for sale. They are not Exclusive Buyer Agents if they work for a company also has Listings for sale. Importantly, since true EBAs do not take listings, then they cannot help you if you need to also sell before buying or later when it is time to sell and move.
  • Self-Proclaimed Buyer Agents – Basically real estate agents can call themselves “a Buyers Agent”, but do they have Credentials?. Do they work for a real estate firm with a lot of Listings to sell? If so they also have an obligation to represent the seller of those listings. If a Buyer’s Agent work for a company with a lot of listings, the bigger the chance they will be compromised. The more listings a buyer’s agent they have, the greater chance they will be put into a “Dual Agency” situation. Dual Agency means neither the Buyer or the Seller will get the 100% professional representation they deserve.

So, why do you need a Buyers Agent or a Buyer’s Broker Because a Buyers Broker offers you a much more secure and cost-effective way to buy real estate. A Buyer’s Broker is typically paid their commission through the Sellers offer in the Realtors MLS system. Even so, if they are “exclusive” they will put in writing that they will not practice “Dual Agency”. This way your best interests are better protected,

How Much Does a Buyers Broker Cost? – As noted above there is no additional cost. The Buyer Agent Fee is typically included in the price you pay for the Real Estate you buy. Even if they do not provide a Real Estate Rebate, you can keep more money in you pocket at closing.

A Buyer’s Agent or Buyers Broker offers home buyers more Time & Money Savings Benefits than a Listing Agent. Listing Agent have an obligation to get the best deal for the Home Seller. Buyer Agents work as your Real Estate Advocate and are dedicated to helping you get the best price and terms. Plus, there are a growing number Accredited Buyer Representatives (ABR) that also provide Agent Commission Splits to make buying a home even less costly.

Home Buyer Savings with A Buyer’s Broker

Most Real Estate Consumers can save a lot of Time and Money when using a Buyer’s Broker. Many consumers have heard the Real Estate Agent Fees are negotiable. However, some Agents claim they cannot negotiate their fees because of they have set rules they have to go by. Best Home Search is here to help you get the Buyer Savings available to you on the purchase or New Homes, MLS Listings, and other residential real estate.

1. Getting Approved for a Mortgage is only the First Step

Talking with a Mortgage Lender and getting their approval for a home loan will tell you your price range limits, the down-payment required, and your estimated closing costs. However, there are other financial considerations you need to be aware of as a home buyer including increased costs for property taxes and the cost of insurance, utilities, home maintenance, and perhaps homeowner association dues. So, when you take all of this into account and it fits your budget, you should be ready for the next step. Importantly, DO NOT take out any new loans or Credit Cards, and don’t make any big purchases like furniture or a car after you are approved for a loan. Any of these moves could jeopardize the loan for your home purchase.

2. Now that you know what you can afford, it is time to start your home searching

In addition to doing some of your own real estate research, the best place to start your home search and Save Time and Effort is online. Then consider driving through neighborhoods close enough to work, good schools, shopping, and in areas that match your specific lifestyle choices. Concentrating on the neighborhoods that are best for you and your family before looking for specific homes is smart. Importantly, the Realtors typically specialize in specific areas and Best Home Search seeks out and helps to match you to those that fit your family’s specific needs.

3. Selecting the Right Kind of Realtor for You

The Realtors at Best Home Search are Brokers-in-Charge of the Companies and/or Team Leaders or highly qualified Agents that are Accredited Buyer Representatives, Certified Residential Specialists, and/or a Graduate of REALTOR® Institute. They are dedicated to working as your real estate advocate throughout the home buying process. It has been shown the selecting a qualified Buyer’s Broker or Buyer’s Agent can typically save you about 3% more than going through the Agent advertising the property for sale. These “Listing Agents” normally have a legal obligation to get the seller (not the buyer) the best price and terms. Importantly, the Buyer Brokers and Buyer Agents in the Nationwide Best Home Search Network offer a written agreement stating that they will represent your best interests. Most also offer or have access to a First Time Home Buyer Program or they offer a Home Buyer Rebate.

4. Home Buyer Rebates for Additional Buyer Savings

A Home Buyer Rebate or Real Estate Rebates, aka Agent Commission Split typically means you will need to bring less money to the closing table, in many cases a lot less money!  The IRS views such home buyer rebates as a reduction to the cost of buying a home and so this Buyer Savings is considered non-taxable to you.  (However at the time of this writing, Home Buyer Rebates are not yet legal in these States: AL, AK, IA, KS, LA, MS, MO, OK, OR or TN.)

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